Page 6 - Shapoorji Pallonji

Bombay High Court quashes defamation plea by Shapoorjis against Venkat

Shapoorji Pallonji & Co had filed a defamation plaint in September 2018 before the Ballard Pier Court

Shapoorji debuts in Delhi-NCR realty mkt with Rs 1,200 cr housing projects

The project 'Joyville Gurugram', spread over 18 acre land on Dwarka Expressway, will be developed by a $200 million platform

Bombay HC seeks Shapoorji Pallonji's reply over Tata Trust chief's plea

In its complaint filed in September, the company had claimed that Venkatramanan, on May 30, issued a false, frivolous, baseless and defamatory press statement against it

Icra downgrades Shapoorji Pallonji on muted sales, continued cost pressure

Rating agency ICRA has downgraded Shapoorji Pallonji and Company's (SPC's) fund-based limit from AA+ to AA and placed it 'under watch'. The rating action is a sequel to muted sales and continued cost pressure. This has led to weak performance of the group's real estate portfolio and slower than anticipated progress on asset monetisation. The funding support provided to group/subsidiary companies (primarily real estate Special Purpose Vehicles or SPVs) had resulted in an increase in SPC's standalone borrowing levels, contrary to ICRA's earlier expectation. Also, the debt taken by the group's real estate units, for which SPC extended a debt service reserve account (DSRA) guarantee, is exposed to refinancing risks, as the projects would take time to generate commensurate cash flow.Monetisation of its information technology park at Chennai and the solar energy portfolio took place in the recent past. Proceeds from the IT park, says ICRA, are expected to be used for reducing debt at the ...

Icra downgrades Shapoorji Pallonji ratings on muted sales, weak performance

Recently, the company announced its plans to raise around $1 billion by bringing outside investors into its solar unit

Tycoon Pallonji Mistry eyes $1 billion via 30% share sale in solar unit

The solar unit, which provides engineering, procurement and construction services, will generate Rs 95 billion of revenue for the year ended March 2019

Shapoorji Pallonji to enter warehousing; in talks to form partnerships

Shapoorji Pallonji currently has nearly 90 million sqft of residential development in the pipeline across segments like luxury, mid-income and Joyville brand

CPPIB pips Shapoorji-Allianz, InterGlobe for Hyderabad business park

CPPIB has been stepping up presence in Indian real estate in the past couple of years

Shapoorji Pallonji and CPPIB joint venture firm to sell Chennai IT park

The JV company, bought SP Infocity IT Park for $220 million (Rs 13.40 billion) in mid-2015

Shapoorji Pallonji, Abu Dhabi to fund office space

This is third such alliance for Shapoorji Pallonji after tie-ups with CPPIB, Germany's Allianz group

Shapoorji Pallonji elevates two executives

This comes at a time when it is expanding its realty business by launching residential projects

Shapoorji sees opportunity amid realty slowdown, to launch a dozen projects

Covering about 13 mn sq ft, experts agreed this is the biggest plan by any developer at the moment

Shapoorji Pallonji firm aims to treble sales value

Mulls to sell between 400 and 500 apartments this financial year

Shapoorji Pallonji Group acquires 51% stake in Italian firm

The group also buys 55% stake in Co.Stell, two operating companies of STC Group